The Branded Private Residence Club
Friday, February 13, 2009 at 02:35AM As with many great ideas, the shared residence club concept was not born in a vacuum. Its distant European cousin, the timeshare, originated in the ‘70s – then modified over years changing its structure and primary focus to fit the newer needs and wants of the growing boomer and Gen X—Y populations. This group of over 80 million and growing wanted more than the sharing of time: they wanted the sharing of luxury residence space. They wanted uncharted and elite vacation destinations and, in those areas, wanted to own the best in luxury residence living without the home maintenance hassles. And, no matter how capricious the world economy has become, the growth of the most successful equity-based, deeded residence clubs have remained constant, with $2.6B in sales volume in 2008. Not surprisingly, many of those clubs that remain stable and thrive all have something in common: a great hotel brand, with significant resort amenities.
The luxury brand, both in the hotel and hospitality realm, is a vital part of this elite vacation bandwidth. When member/owners buy into a club managed or owned by a high end brand, they buy a promise of the best in service, experience and well-being. Below are the most elite, equity-based private residence clubs, branded and managed by the most exceptional hotel/hospitality companies the world.
Fairmont Heritage Place
Fairmont Heritage Place (FHP) is the luxury fractional club component of the Fairmont Hotel brand.
FHP offers various combinations of one, two, three and four bedroom residences in five locations, with more on the way. Fairmont Heritage Place owns: the Franz Klammer Lodge - a ski-in, ski-out property located in the mountain village of Telluride, Colorado, the Acapulco Diamante positioned on the Revolcadero Beach in Acapulco, Mexico. Other Fairmont Heritage Places include: Southampton, Bermuda, Zimbali, South Africa, Whistler, British Columbia, Miramar Beach, Florida, as well as others coming soon in Dubai UAE and Vail, Colorado. Owners at Fairmont Heritage Place are also members of the Fairmont President's Club, where they can choose to exchange their vacation time with other Fairmont Heritage Place properties.
Their most recent opening is the Fairmont Heritage Place at the world famous Ghirardelli Square in San Francisco, California. The club has been renovated many times, but started out as 19th century chocolate factory, whose sign, GHIRARDELLI, still overlooks the Embarcadero, Fisherman’s Wharf and San Francisco Bay. The residences two and three bedroom units, are sold in 1/10 shares, starting in the $450,000 range.
Four Seasons Residence Club
The Four Seasons Residence Club is comprised of six select locations: Aviara, Scottsdale, Punta Mita, Jackson Hole, and the Peninsula Papagayo.
Before members arrive for their scheduled annual vacation an activity planner contacts them and plans their stay. Service for each residence includes; stocking the refrigerator with groceries of choice, in-house dining or customized meals prepared by a private chef. The club caters to families with children, starting with babysitting and special games in each clubhouse to the 'Kids For All Seasons Program'.
The Four Seasons Residence Club, Vail, has been very successful in its sales prior to its opening in November 2009, according to Jeff Meier, Director of Sales. It is situated at the main entry to Vail Village, and is a very short walk to the Vista Bahn® ski lifts. The property features a 120-room resort, as well as including 19 fractional residences sold at 1/12 interests. Pricing begins, per share in the $400,000-$500,000 range. Owners enjoy full access to Four Seasons services and amenities, including a spa and fitness club, lap pool, dedicated ski/snowboard valet, and a fine dining restaurant,
St. Regis Residence Club
The St. Regis Residence Club offers a second home with all the amenities and service of a luxury hotel. Currently, the St. Regis Residence Club has two destinations the Aspen Club and the New York Club, though others in in various stages of completion, including the St. Regis Residence Club in Bal Harbor, Florida, opening in 2010. Residences in the Aspen Club are designed by Marc-Michaels Interior Design and are comprised of 2,200 square feet three-bedroom units and 1,700 square feet two-bedroom units. Stone fireplaces, wood floors, Internet access, gourmet kitchens and whirlpool tubs are some of the outstanding features in each residence. The Aspen Club provides fine dining at Olives as well as advanced Laboratoire Remède treatments at the St. Regis Remède Spa.
The St. Regis Residence Club in New York consists of 22 residences, on floors 8-11 within The St. Regis® Hotel. The dedicated St. Regis Butlers, who have graduated from the St. Regis Butler School, address every need of the member/owner. There are three styles of residences - studios, one- and two-bedroom residences - all with deeply carved crown molding and wainscoting, crystal chandeliers and ten-foot high ceilings. The pricing for both clubs range between $350,000 and $700,000 per 1/11th to 1/13 shares.
Ritz-Carlton Club
The Ritz-Carlton Club is a deeded fractional ownership real estate offering, combining the benefits of second home ownership with personalized Ritz Carlton services and amenities. Properties in existence are Aspen Highlands and Bachelor Gulch, Colo.; St. Thomas, U.S.V.I.; San Francisco; and Jupiter Fla. Coming soon are Vail, Colo.; North Lake Tahoe, Calif.; Kapalua Bay, Maui and Kauai Lagoons, Hawaii; and Miami’s South Beach in Fla. Membership prices vary according to location and residence type. Ownership periods are generally 3 to 5 weeks and prices can range from US $144,000 to $850,000 per interest. Ritz-Carlton Club members can exchange a portion of their allocated yearly vacation period with other communities within the club and also enjoy privileged access to Ritz-Carlton hotels.
On April 28, 2009, the Ritz-Carlton announced the launch of their Destination Club, which provides members two equity-based membership programs with varying degrees of access to their portfolio of properties.
The Orchard At Carneros
For years, the Carneros region of Napa Valley was one of the least developed in the area. With a climate similar to that of Burgundy in France, all it was used for was growing Pinot Noir and Chardonnay grapes. Grapes have been grown in the area since the 1830s, and the first Carneros winery, was built in 1870. The land had a soft, pastoral footprint, marked by hilltop views of the Napa river, neighboring vineyards and views of the Mayacama mountains. The location, equidistant between Napa and Sonoma, is less than an hour from San Francisco.
The Orchard at Carneros is a successful private residence club set in the center of the renowned Carneros Inn Resort. The club also features an exclusive Owners’ Lounge for private wine tastings, parties and receptions, a spacious, state-of-the-art fitness center, an award-winning spa, three distinctive restaurants and a variety of pools, all just steps away from the cottages. Ownership also includes personal concierge service – available to make arrangements prior to arrival and during the member stay for dining reservations, tee-times, personal chefs, pre-arrival grocery shopping, spa appointments, etc. Pricing is in the $300,000 range and up for 1/10 guaranteed time of 21 days. Happily, the club has enjoyed an 81% sales increase since May of 2008.
The Orchard is managed by the PlumpJack Group, which handles all its services and amenities. It is a substantial hospitality brand, founded by San Francisco major Gavin Newsom. PlumpJack’s business enterprises include wine shops, resorts and restaurants throughout northern California. In addition, the Timbers Resorts has taken over the real estate operations at the Orchard. Timbers Resorts specializes in the complete development, sales and marketing of the highest end boutique clubs worldwide, including Castelo di Casole in Tuscany and the Preserve at Botany Bay in St. Thomas.
Capella Pedregal
Accessed via a private mountainside tunnel, Capella Pedregal is comprised of a 66-room Capella Resort and Spa, 38 shared-ownership Capella Residences and 11 private, full-ownership "Casonas." It is also the only luxury hotel and residence resort with immediate proximity to the world-class Cabo Marina where Capella Pedregal offers its owners and guests unprecedented access to a fleet of luxury Viking sport fishers and cruisers at the CP Yacht Club. A 1/9 share in the Capella Pedregal residence club ranges between $490,000 and $560,000, for a three or four bedroom residence.
Amenities at Capella Pedregal include fractional ownership in a luxury Viking yacht at the CP Yacht Club, access to all of the amenities of the Capella Resort and Spa on 24 acres of pristine beachfront land. Resort guests and residents also enjoy amenities including a 10,000-square-foot Sylvia Sepielli-designed signature Auriga spa and wellness center; their own personal concierge; and attendance by Capella’s signature Personal Assistants who are on hand to arrange anything from dining reservations to yacht excursions and access to Cabo’s many attractions.
Capella Hotels and Resorts. founded by Horst Schulze, creator of the Ritz-Carlton luxury brand, is a new hotel brand focused on intuitive service and boutique destination choice. The Capella brand is opening world-class properties in gateway cities and multiple high-profile resort destinations around the world.
Residences at the Little Nell
The Residences at The Little Nell are an exclusive, member-owned, private residence club located on Aspen Mountain adjacent from the Silver Queen Gondola with direct ski-out, ski-in access. For a 1/8 share, the Residences at The Little Nell in Aspen are now priced at $3,000,000 for a 4 bedroom residence and $1,475,000 for a 3 bedroom residence. Ownership guarantees a minimum of four “planned vacation weeks” each year: two prime winter and two prime summer. Additionally, owners may reserve two “vacation weeks” on a first-come, first-serve basis. The properties are operated and managed by its slopeside neighbor, The Little Nell resort. The pricing has been driven by a variety of factors including the continuing and growing appeal of fractional ownership, the ski-out, ski-in location right at the base of Aspen Mountain and the Mobil Five-Star and AAA Five-Diamond luxury of the Little Nell resort.
The Little Nell has become a brand in itself, as there are also Little Nell Residences under construction in Colorado’s new Snowmass Village. These are wholly owned homes, where some 70 percent of its 30 residences have sold since December 2007. The ski-in/ski-out, two-bedroom at $3.1 million. The brand is looking to expand to Jackson Hole with a 50-unit condominium and hotel project.
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